S&P downgrades SCOR's outlook

Standard and Poor's (S&P) has affirmed its "AA-" financial strength rating on the SCOR group. However, S&P has lowered its outlook from stable to negative.

S&P says the French reinsurer has underperformed over the past five years, below the rating agency's expectations.

This negative performance is mainly due to a challenging pricing environment in the group's non-life business, the decrease of the technical margin of the life reinsurance activity and the increase of natural disasters.